Whenever the "iii"rd gets completed in the opening session, the "iv"th would playout.
Since the "ii"nd was a zigzag, the "iv"th is likely to be a "Flat or Triangle" to be followed by a "v"th.
"5020-5039(Last ST Tops) & then 5055-60(55DEma/200sma)" are the immediate resistance.
Above these is placed 50sma @ 5090+.
For supports, Day pivot @ 4965 & WEma @ 4945 must hold for continued rise.
"ii"nd wave's depth was 51 points.
Only EW study shows you the mapping technology as it did in our pre-market view chart of 06th June...anticipating a "iii"rd wave. And my kind of EW is the most elementary...they are just 1,2,3,4,5 or abc or i,ii,iii,iv,v or abcde. Be willing to readjust it along the way.
Being able to remain objective, no matter what, we continued to maintain the "B" wave correction and it may have ended at 4770 and a faster retracement to 5020 this morning would be the 1st confirmatory signal.
I have maintained this "B" stand once the top was identified exactly at 5630 using monthly pivot table in Feb.12. And along the way, we managed to decipher the correction quite well, playing almost all its downmoves using our elementary "abc" and "i,ii,iii,iv,v. In the process, we have
Got Rich slowly and quietly.
Since the "ii"nd was a zigzag, the "iv"th is likely to be a "Flat or Triangle" to be followed by a "v"th.
"5020-5039(Last ST Tops) & then 5055-60(55DEma/200sma)" are the immediate resistance.
Above these is placed 50sma @ 5090+.
For supports, Day pivot @ 4965 & WEma @ 4945 must hold for continued rise.
"ii"nd wave's depth was 51 points.
Only EW study shows you the mapping technology as it did in our pre-market view chart of 06th June...anticipating a "iii"rd wave. And my kind of EW is the most elementary...they are just 1,2,3,4,5 or abc or i,ii,iii,iv,v or abcde. Be willing to readjust it along the way.
Being able to remain objective, no matter what, we continued to maintain the "B" wave correction and it may have ended at 4770 and a faster retracement to 5020 this morning would be the 1st confirmatory signal.
I have maintained this "B" stand once the top was identified exactly at 5630 using monthly pivot table in Feb.12. And along the way, we managed to decipher the correction quite well, playing almost all its downmoves using our elementary "abc" and "i,ii,iii,iv,v. In the process, we have
Got Rich slowly and quietly.
68 comments:
Good Morning Respected Mr.Illango, My Beloved Master Mr.Dinesh Rishi & All Blogmates, Have a Prosperous Day.
Camarilla Key Levels
Nifty Futures
H4 5036[BUY]
H3 5008[SELL]
L3 4950[BUY]
L4 4921[SELL]
GM Master,
Master Last hour Low below previous hr low does it not indicate weakness?
Good Morning Ilango Sir and Friends
NIFTY resistance levels and a possible bullish engulfing in weekly chart: CLICK HERE
Good Morning Master & Friends
GM master: A beaten to pulp student tries to rise from his underground bunker trying to survive the bull cluster bomb.
@PT: Kaha ho yaar....
@Sujatha Ma'm: No strength left to talk.
good morning sir and all friends.
R/ilango sir good morning n same 2 all reader's.
Pranams Gurudev
PT is a smart investor he has his stoploss in place
cheers
Good morning Master & Jn family
Namaste beloved Master and all good friends
May the Lord bless us all
have a nice trading day
Good Morning Ilango Sir and blog mates.
Sir, you have mentioned 4935 as SAR/S.L. for conversative trades.Sir,this is not clear to me as JNSAR is 4906 and 5DEMA is 4919 above which ST is up. Pl explain.
Good Morning Sir and all blog-mates.
good morning master and all frnds
have a very good day
Namaste Ilango Sir and JN Family
Goo Morning Ilango Sir & all Blogmates
Rgds
Saravanan
Overall view for today:-
Nifty, By closing above 4950 makes a Trend Reversal yesterday.Yesterday it was a clear bulls rally.Now 5042-5072 are immediate resistances crossing the same makes bulls comfortable to give close above 5100.World market suggesting a gap up opening , SGX Nifty 60+. Considering SGX, Nifty might cross resistances 5018 -5042 in opening session. 5072 seems to be a overbought level, so partial profit booking at this level is benificial.
4977-5018 - Support area .(Re-Buy opportunity.)
5042-5072 - Resistances ( Crossing 5072 , next Immediate target 5102. & 5174)
5072 - Overbought Level ( Partial Profit Booking )
Changing your sentiments as per the trend from bulls to bears or vice versa is hardest thing, but the most required for successful TRADING. TRADING game is always against human nature,
Winning our own emotions makes our way to success easier.
Current Trend: - UP.
Possible Movements:-
1.4997 < = > 5042 < = > 5018 < = > 5072 < = >5102 < = > 5174.
2. 4997 < = > 5042 < = > 5018 < = > 4977 < = >4948 < = > 4926 < = > 4904.
Two best rules for successful trading:-
1. Initiate position in the direction of trend near support & resistances.
2. Max stop loss - 30 points.
Happy disciplined trading to all.
Have a nice day!
Namaste Ilango Sir and fellow bloggers
LV
Good Morning Master and copy to All
Got Rich slowly and quietly
It would not have been possible without you guidance My Master.
http://www.youtube.com/watch?v=wHir6W6HOPs
Namaste Ilango Sir And All.
"Partbooking,Remaing objective,sitting tight,
diffirent mkt.conditions diff.tools to handle.
Act when your numbers fleshing on screens etc."
I remind myself all these to day is time to test
my skill to put knowledge in to actions.
1st opening > 5020 makes weekly Bar Reversal in
intra week.Friday close > will make perfect.
Most Relaible reversa pattern as per my knowing.
@Dr Sir,
Truly Meaningful Song.
good morning master and blogmates
Master ilango and Dinesh ji
Good morning and copy to all
☺☺
@ Julius sir
Can we go short in first 15 mnts also on break of 5008 cam sell level? (as the price is near 5008)
Dear Ilango.. I need some assistance from you..I have this weakness of trying to Pre empt the moves and in the process of trying to catch the moves early i enter into positions which i shouldnt be.. for example when Nifty was resisting at 4948 briefly i was about to go short and asked your guidance.. You suggested for weakness to emerge before shorting.. From the point of TA / indicators , How do we see/wait for actual weakness / strenghth to enter or even exit , rather than pre empting the moves.. I am aware i am asking something too basic.. since i felt this is where i lack seriously i thought of asking you.. Your view you including what parametres to look at will be a great help.. Thanks
@ master
if u give any hint how many points regarding "iv" th....
@PT: I see break of 5005 to result in fast fall - maybe upto 4940 levels. But if nifty sustains above it, i see tgt of 5200 in coming week (grinding journey).
@Mynac: Though FII bought cash yest, they decrease in OI & price rise suggest they have covered thier shorts but not added any new fresh longs. Can you pls confirm?
Good morning Gurudev and friends
@Mr.Hari_Hyderabad,
After 9.30am. Before that only from aggressive
traders.
@shriram,
I read your yesterday's explanation now. Thank you very much.
Regards,
Veer
Kumar Sir GM
u minting quietly quietly
but one day you will be singing this gazhal
http://www.youtube.com/watch?v=1RH_GN9ffNo&feature=related
ORB Trade
High 5042.30
Low 5029.65
Good Morning...............
ORB Broken Down Side
Master ilango,
Thanks for being there always.
Regards
good morning, seniors..
Camarilla Intraday - Trade1
Nifty Futures
H3 5008[SELL] triggered with SL of 20pts.
Prithvi
Leading the show :D
Good Morning ILango Sir, D R Ji & everyone!
D R Ji....Ha ha ha...its one of my favourite Ghazals, thanx for refreshing my memories. One important quote:
ALWAY REMEMBER "Money is not everything in Life" but make sure & earn sufficient before thinking such nonsense:))
KUMAR SIR ji
good morning
sir i trade once in a day. And today i buy a bank. so if u feel i did mistake then plzz suggest me.
i m reading now master notes and trying to understand. (ab pata chala ki trading bhi ek science he.)
Morning everyone!
Kumar ji ka minor RES zone is @ 5057-5060 (also tallies with C.2 = 1.618xC.1)
5-10DEMA x-over in place further co-roborates that this upmove may be IMPULSIVE
So wot to do?
Wud be ideal to book LONGS @ 5050-5060 zone & re-enter on dips to 4955-4975. Always keep an eye on 34EMA, 30mins. Moment it stop supporting price, its time to shift tracks..
Have a gr8 trading day cheers!
DR Sir,
Want to be a part of JNsar system update helper.
So i understood only ORB system,and update it now everyday
If you dont mind.
Dont mind watch song,
Please find it yourself
Kadam Kadam badhae ja,khusi ke geet gai ja
VIJAY KUMAR
which bank you bought
I wanna send my resume?
if you are talking about BN
rule says
Touch BN if you have made profit(or no loss) in Nifty for continuous 3 months
Kumar Sir
This is a gem
" ALWAY REMEMBER "Money is not everything in Life" but make sure & earn sufficient before thinking such nonsense "
Wish i heard this before screwing up my finances ..
Faster retracement of 5020 to 4770(25 Hours) done in "21 Hours".
A flat correction may have started from 5042(Pre-market's 5040).
iind wave's depth was of 51 points.
Supports @ 4985 presently.
Prithvi
My best wishes are with you
I would like you to read an article by
Dr. Jignesh Shah Nifty Doctor
(Google it and post the link here
so everybody can read it)
Dear Prabhat,
Shorts are must for up move...because then only Bulls can force Bears to cover it @ higher level,whenever they have upper hand...
At present due to lack of that kind of favorable data,market may or may not go up from here for some more points but as Hrly data does not support the move strongly,it shall not be long lasting,atleast for the day is understanding...on the contrary,when it shall fail to trade above Hrly.pivot or Hrly.Hema,the chances of running correction are there is simple view for "the day...
JR THANKS IM SHORTED......TGT?
Prithvi
article by
Dr. Jignesh Shah Nifty Doctor
on ORB
Prabhat sir,
Me too mutilated by Bull desie bomb.Now trying to rise from ashes
@ master
can ii wave depth = iv wave depth ?
Dr Kumar Sir
I knew
ALWAY REMEMBER "Money is not everything in Life" but make sure & earn sufficient before thinking such nonsense:))
I earned sufficient by selling all my ancestral property.
Lolzzzzzzzzzzzzzz
thank you dinesh rishi
i place order for sbi fut but didnt come at my price. but is it right to buy now sbi fut or bnf
@ NOBLE ,
I reminded you of "ii"nd wave depth to understand the strength/ weakness of bull & bear during the "corrective stages".
It need not be equal.
Master,
if iii rd wave retrace more than 100% then can'nt iv retrace more than 51?
For ORB trading being applied to different markets, it should be observed and concluded for "efficiency".
For Nifty, it works quite well during trending time/ reversal time but not good during "range bound days"...........SIR U TOLD YESTERDAY...BUT IF MARKET RANGY..IN WHICH INDICATOR I USED..PLESS TELL
@ Vijay Kumar ,
Do you have Microsoft Excel installed ? If not please install it and use it for 2 months even before touching Nifty :)
yes jigar ji i have excel but guide me to do it
Here is the link for Nifty doctor's article on orb trading
http://niftydoctor.blogspot.in/2009/04/opening-range-breakout.html
VIJAY KUMAR
I dont track SBI
did you read BN trading rule & do u qualify it
New Post Done.
@Vijay Kumar
I am not able to see your email ID , please make changes to your profile settings so that I can see your email ID and please dont post your email ID here directly , ppl can view it from your profile.
Hari :D
@ Vijay Kumar,
You bought a 'Bank' !! Can you give me loan of 1 crore? So I can trade in nifty...
@ HARI.................THNX TO POST EHIS ARTICL
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